Our last 1.10550 Target has been hit after the Higher Low trend line broke. As mentioned on the chart below, the indicators where there for the sell as the 4H RSI was on a bearish divergence:
What we are focusing on now is the Death Cross (MA50 below the MA200) that was formed on the 1H chart. The Channel Down is clear (RSI = 38.625, MACD = -0.002, ADX = 25.821) and as long as the 1H MA200 (orange line) is intact and holds as the new Resistance, the price is aiming for a new Lower Low within the 1.0980 - 1.0950 zone.
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What we are focusing on now is the Death Cross (MA50 below the MA200) that was formed on the 1H chart. The Channel Down is clear (RSI = 38.625, MACD = -0.002, ADX = 25.821) and as long as the 1H MA200 (orange line) is intact and holds as the new Resistance, the price is aiming for a new Lower Low within the 1.0980 - 1.0950 zone.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial